Profitable Mindset

How to Avoid Debt and Have Consistent Cash Flow on Your Farm


Listen Later

Learn to maintain an empty inbox & organized mind with my free "Inbox Zero" training: http://www.3cowmarketing.com/zero When you started your farm, did you have a plan for cash flow? I didn't, I just knew I wanted to start a farm. Now I ended up picking something that was great for cash flow. With dairy, I would milk the cows in the morning and by the end of the day, I would literally have a box of cash. This was back in the days when people picked up milk on their own and put money in a box. We were open seven days a week, and it was the best cash flow plan I could have dreamed up. I was lucky, because I didn't intentionally have a plan for immediate cash flow. Depending on what you're producing, there are times when you need to invest some of your outside money in your farm and times when you're making more from your product sales. Lack of cash flow is another big reason many farmers go out of business, and so on today's episode, I'm talking about 3 ways to have more consistent cash flow on your farm. If you're in the first year or two of your business, you're going to have a lot of start-up expenses as you're building the infrastructure of your farm. With this understanding, you'll want to have a lot of working capital either with a big bank account full of money or a day job that allows you to keep investing in your farm. Beyond these first years, we're talking about money coming into then is going out of your business, and simple changes you can make in running your business so that you have consistent cash flow and don't have to keep using credit cards or taking out loans in order to run your farm. In this episode, I'm sharing one of the best changes I made on my farm and how you can make this simple change today to help with a cash flow problem. I'm explaining why this change is a win for your business and your customers, and how to convey these benefits so that customers are happy to pay. We're also taking a look at assets and liabilities, as I explain why I think one commonly considered liability is actually an asset in business. I'm sharing how this asset contributes to the profits on my farm and how you can do the same. When you listen to this episode, you'll discover what might be the most valuable asset in your business and what to focus on in order to have a positive cash flow, and a profitable, sustainable business. If you're ready to increase your cash flow, listen to the newest episode of Profitable Mindset now! Much love, Charlotte
...more
View all episodesView all episodes
Download on the App Store

Profitable MindsetBy Charlotte Smith

  • 4.8
  • 4.8
  • 4.8
  • 4.8
  • 4.8

4.8

178 ratings


More shows like Profitable Mindset

View all
Pioneering Today Podcast - Homesteading in a Modern World by Melissa K Norris

Pioneering Today Podcast - Homesteading in a Modern World

963 Listeners

Working Cows - Regenerative Ranching to Maximize Profitability and Soil Health by Clay Conry

Working Cows - Regenerative Ranching to Maximize Profitability and Soil Health

438 Listeners

The Flower Podcast by Scott Shepherd, Host and Flower Educator

The Flower Podcast

243 Listeners

Growers Daily by Farmer Jesse

Growers Daily

402 Listeners

My Digital Farmer Podcast by Corinna Bench

My Digital Farmer Podcast

87 Listeners

Beyond Labels Podcast by Joel Salatin & Dr. Sina McCullough

Beyond Labels Podcast

273 Listeners

Grazing Grass Podcast sharing Regenerative Ag Stories by Grazing Grass

Grazing Grass Podcast sharing Regenerative Ag Stories

117 Listeners

Homesteaders of America by Homesteaders of America

Homesteaders of America

150 Listeners

Everyday Homesteading by Homesteading Family

Everyday Homesteading

1,015 Listeners

The Cut Flower Podcast by Roz Chandler

The Cut Flower Podcast

24 Listeners

Field and Garden with Lisa Mason Ziegler by Lisa Mason Ziegler

Field and Garden with Lisa Mason Ziegler

387 Listeners

The Dirt on Flowers by Shannon Allen and Lyndsay Biehl

The Dirt on Flowers

333 Listeners

Seed Talk with Lisa & Layne by Lisa Mason Ziegler & Layne Angelo

Seed Talk with Lisa & Layne

153 Listeners

The Backyard Bouquet Podcast: Cut Flower Podcast for Flower Farmers & Backyard Gardeners by Jennifer Gulizia of The Flowering Farmhouse

The Backyard Bouquet Podcast: Cut Flower Podcast for Flower Farmers & Backyard Gardeners

90 Listeners

Six Figure Flower Farming by Jenny Marks

Six Figure Flower Farming

162 Listeners